Why Is Oklo Stock Up Today?
Oklo stock surged 9.23% on Friday, continuing a rally that began the previous day, driven by new analyst coverage. Canaccord Genuity and Oppenheimer both initiated coverage with a Buy rating and a $175 price target, indicating a potential 15.29% upside. Despite warnings of no profit until 2030, the changing U.S. nuclear energy landscape presents strong growth potential for Oklo, which has seen a 610.69% increase year-to-date and 1,409.64% over the past year.
That's not the only news that has benefited OKLO stock recently. The company's shares have continued a rally that started yesterday. The catalyst for that increase was new analyst coverage. Two financial firms initiated coverage of Oklo, sparking investors' interest in the shares.
- Five-star Canaccord Genuity analyst George Gianarikas initiated coverage of Oklo with a Buy rating and $175 price target, suggesting a possible 15.29% upside for the shares.
- Oppenheimer also initiated coverage of OKLO stock yesterday, mimicking Canaccord Genuity's stance with a Buy rating and $175 price target.
The bullish coverage for OKLO stock comes despite warnings that it isn't expected to report its first profit before 2030. Even so, the nuclear energy landscape in the U.S. is rapidly changing, and there's strong potential for Oklo to be a major player in the space.
Oklo Stock Movement Today
Oklo stock was up 9.23% on Friday, extending a 610.69% year-to-date rally. The shares have also increased a whopping 1,409.64% over the past 12 months. These gains come as traders have high hopes for Oklo once it starts reporting profits.
